Chevron analyst day likely to show production growth

Chevron Corp is likely to keep its capital expenditure budget at $37 billion and reiterate 2013 production of 2.65 million barrels of oil equivalent a day when it meets next week with analysts and investors, analysts at UBS said in a note to clients Wednesday.

Chevron’s 2013 production would be a 1.5% increase year-on-year.

UBS also said it expects Chevron to provide more details on its spending on large projects and highlight “a more attractive 2013 exploration program,” the analysts said.

Chevron’s analyst day is scheduled for Tuesday. Exxon Mobil Corp. had its analyst day on Wednesday, and it said 2013 production is to fall 1% but that production growth will return in the next five years as more projects come in line.

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